Jefferies Slashes Numbers on Eros International (EROS) But Keeps 'Buy'
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Rating Summary:
5 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Jefferies analyst John Janedis slashed estimates and his price target on short-seller target Eros International Plc (NYSE: EROS) to $21.00 (from $40.00) but maintained a Buy rating following Q2 results.
John Janedi commented, "EROS reported F2Q, with strong rev growth offset by higher content amort and accrued overage charges given EROS's box office success. That said, with the stock down over 75% (vs S&P 500 -2.5%) since F1Q earnings, investors were entirely focused on mgmt's response to questions regarding the co's acctg practices. These criticisms notwithstanding, we believe the mkt not giving EROS credit for the value of its film library and potential of Eros Now."
The firm lowered FY 2016 EPS from $0.85 to $0.40 and FY 2017 EPS from $1.21 to $0.93.
For an analyst ratings summary and ratings history on Eros International Plc click here. For more ratings news on Eros International Plc click here.
Shares of Eros International Plc closed at $7.89 yesterday.
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